Question
Scheduled payments of $1000 due now and $2000 due in five years are to be replaced by a payment of $2500 due in four years
Scheduled payments of $1000 due now and $2000 due in five years are to be replaced by a payment of $2500 due in four years and a second payment due in six years. Determine the size of the second payment if interest is 5% compounded quarterly.undefined
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Public Finance and Public Policy
Authors: Jonathan Gruber
4th edition
1429278455, 978-1429278454
